German distressed market grows as culture changes

By Elena Moya

LONDON, Sept 22 (Reuters) - Germany's 160 billion-euro non-performing loan market will grow and remain Europe's most attractive as cash-rich hedge funds, banks and buyout firms line up to take control of the country's struggling mid-sized companies, market participants say.

Businesses such as auto-parts makers Kiekert and Schefenacker have seen their profits fall and are now negotiating debt-for-equity swaps with hedge funds, investment banks and private ...